XML 21 R8.htm IDEA: XBRL DOCUMENT v3.19.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash Flows From Operating Activities:    
Loss from continuing operations $ (68,603) $ (4,279)
Income from discontinued operations, net of income taxes (Note 11) 21,053 2,205
Net (loss) income (47,550) (2,074)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,400 13,993
Stock-based compensation (Note 4) 13,019 9,211
Gain on Commercial Product Portfolio Transaction (Note 11) 33,644 0
Non-cash lease expense (Note 9(a)) 874 0
Unrealized gain on available-for-sale securities (Note 3(a)) 133 0
Amortization of discount on available-for-sale securities (Note 3(a)) (331) 0
Income tax recognition on unrealized gain on available-for-sale securities (33) 0
Realized gain on sale of CASI stock (Note 7) (2,674) 0
Unrealized loss (gain) on marketable securities (Note 3(a)) 11,758 (58,634)
Unrealized gains from transactions denominated in foreign currency (5) 10
Deferred tax liabilities (1,469) 9
Change in fair value of contingent consideration (Note 9(b)) 1,478 483
Accretion of debt discount on 2018 Convertible Notes, recorded to interest expense 0 1,079
Amortization of deferred financing costs on 2018 Convertible Notes, recorded to interest expense 0 124
Change in cash surrender value of corporate-owned life insurance policy 0 (5)
Changes in operating assets and liabilities:    
Accounts receivable, net 27,314 5,087
Other receivables (6,535) (781)
Inventories (2,037) 816
Prepaid expenses and other assets (3,164) 1,167
Other assets (1,087) 3,451
Accounts payable and other accrued obligations (33,438) (8,210)
Accrued payroll and benefits (4,592) (4,314)
FOLOTYN development liability (4) (195)
Contract liabilities (Note 3(h)) 2,395 0
Other long-term liabilities 1,843 (464)
Net cash used in operating activities (76,349) (39,247)
Cash Flows From Investing Activities:    
Proceeds from Commercial Product Portfolio Transaction (Note 1(b)) 158,765 0
Proceeds from sale of CASI stock (Note 7) 5,074 0
Purchase of available-for-sale securities (Note 3(a)) (127,564) 0
Purchases of property and equipment (Note 3(b)) (1,241) (46)
Proceeds from redemption of corporate-owned life insurance policy 0 4,130
Net cash provided by investing activities 35,034 4,084
Cash Flows From Financing Activities:    
Proceeds from employees for exercises of stock options 3,854 4,804
Proceeds from Issuance of Common Stock 1,814 0
Proceeds, Issuance of Shares, Share-based Payment Arrangement, Excluding Option Exercised 444 734
Proceeds from employees, for our remittance to tax authorities, upon vesting of restricted stock and exercises of stock options 0 4,645
Payments to tax authorities upon employees' surrender of restricted stock at vesting and exercises of stock options 0 (27,686)
Net cash provided by (used in) financing activities 6,112 (17,503)
Effect of exchange rates on cash, cash equivalents and restricted cash (6) (286)
Net decrease in cash, cash equivalents and restricted cash (35,209) (52,952)
Cash, cash equivalents and restricted cash—beginning of period 157,480 227,323
Cash, cash equivalents and restricted cash—end of period 122,271 174,371
Supplemental disclosure of cash flow information:    
Cash paid for facility and equipment under lease 921 0
Cash paid for income taxes 33 27
Cash paid for interest 0 558
Noncash investing activities:    
Additions of property and equipment that remain in accounts payable (Note 3(b)) $ 3,209 $ 0